Monday, 5 February 2007

It's nice to read that discount BMO Investorline is lowering its equity trading fees to $9.95 per trade for all telephone or online automated trades as of March 31st on both Canadian and US exchanges. See http://www.bmoinvestorline.com/ProductsServices/5Star.html. That's a big drop from the existing $25 for market orders. Unfortunately, this applies only to what it calls Gold Star clients who have combined assets with BMO of $500k or more. Canada has for years lagged behind the US in low trading fees so maybe this is the start of a change that will extend to all clients. Anyone know if the other major discount brokers in Canada are following suit?